Stocks to Watch: Dr Reddy's, Mazagon Dock, Adani Ports, Concor, Inox Green

Stocks to Watch on October 10, 2023: CLSA said that the war presented an even better buying opportunity in Adani Ports

After tumbling in the last session from fears of the Israel-Hamas war, equity benchmark indices Sensex and Nifty are eyeing a firm start on Tuesday, tracking global markets.

At 7:30 am, the Gift Nifty futures were up 50 points at 19,621 over Nifty futures’ Friday close.

The Dow and S&P 500 gained 0.6 per cent each overnight while the Nasdaq Composite added 0.4 per cent.

Federal Reserve Vice Chair Philip Jefferson said that current yield levels may not require another rate hike.

Asian stocks also rallied ignoring the rise in oil prices. Japan’s Nikkei  jumped over 2 per cent, leading gains. Hang Seng in Hong Kong rose 1.8 per cent, while the S&P/ASX 200 in Australia climbed 1.2 per cent.

Meanwhile, here are some stocks to watch out in trade today:

Adani Ports: CLSA has maintained its buy rating on the stock after it slid 5 per cent on Monday. The company's Haifa Port in Israel contributed 3 per cent volumes in H1FY24. The firm expects a pay-back of 4/6 years under base case/worst case scenarios, CLSA said, adding that the war presents even better buying opportunity, reported CNBC-TV18.

Dr Reddy's: A step-down subsidiary of the company has been named as a defendant in a complaint filed in the US over the sale of cancer drug Revlimid. The case alleged that the company, and other pharma firms, improperly restrained competition and maintained a shared monopoly in the sale of Revlimid. 

Mazagon Dock: The company has signed a letter of intent with a European client for 10 multi-purpose hybrid power vessels. 

Container Corporation: The company's domestic volumes jumped 26.13 per cent year-on-year to 2.61 TEUs for Q2FY24, and EXIM volumes rose 3.5 per cent. Total volumes grew 7.59 per cent to 12.3 TEUs.

Dilip Buildcon: The company has signed an agreement with the Water Resources Zone for a project worth Rs 396.93 crore,

Genus Power Infrastructures: The company said its wholly-owned subsidiary has received two letters of award (LOA) worth Rs 3,115.01 crore. 

Phoenix Mills: The company said its total consumption grew by 20 per cent YoY to Rs 2,637 crore in Q2FY24. Retail collections rose 23 per cent YoY to Rs 638 crore.

GR Infraprojects: The company's JV with Patel Engineering has executed a Rs 3,637.12 cr contract agreement with NHPC. 

Glenmark Life: The firm has declared an interim dividend of Rs 22.50 per share for FY24. The record date has been fixed as October 17.

Tata Steel: Fitch upgraded the steelmaker to BBB- from BB+ with a 'Stable' outlook. 

Inox Green: To achieve a debt-free status, the firm will divest its entire 100 per cent stake in Nani Virani Wind Energy Special Purpose Vehicle (SPV).
Dhanuka Agritech: The company launched an insecticide product called Semacia on Monday. Semacia is a broad-spectrum insecticide, with excellent efficacy against lepidopteran insect pests on a range of crops.

  

Bhageria Industries: The company has received a solar EPC project worth Rs 104.49 crore.